Stocks lost value again today as talk of nationalizing top US banks spurred investors to sell financials, MarketWatch reports. The Obama administration tried to tamp down the nationalization chatter, but without success. Meanwhile, General Electric and General Motors fell 6% and 16%, respectively. The Dow lost 100.28 to close at 7,365.67. The Nasdaq closed down 1.59 at 1,441.23, and the S&P 500 lost 8.89 to settle at 770.05.
- For the week, the Dow shrank by 6.2%, the Nasdaq contracted 6.1%, and the S&P 500 lost 6.9%.